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Multi-Unit Remortgage for Experienced Expat Buy-to-Let Landlords
This is a great case study on how Liquid Expat Mortgages helped a self-employed foreign national in the UAE to remortgage multiple UK buy-to-let properties.
The scenario
A self-employed UAE business owner with multiple properties in and around England and Wales owned the property portfolio under a Limited Liability Partnership (LLP). In his portfolio was a former small office building in Salford, Greater Manchester which had been converted into five flats.
How Liquid Expat Mortgages dealt with the situation
As the flats were all under separate title it essentially required five remortgages which would of course mean increased purchase costs. However due to their location, these flats were a perfect option for those commuting to the centre of the nearby Manchester city centre, as well as enjoying access to major transport links. What’s more, demand for properties in this area had increased so much, that the landlord was now considering adding two further flats to the building.
Our customer was coming towards the end of the existing fixed term mortgage on several units in the building and wanted to minimise mortgage payments to maximise cash flow and yield for the property. Once we’d explained the options available to him, he quickly opted to move quickly to take advantage of the competitive and historically low buy to let remortgage interest rates.
Once we’d presented the options the customer quickly agreed that he wanted to remortgage three of the five flats onto a new interest-only, five-year fixed rate. This would allow him to reduce his current monthly repayments and release equity so that work could commence on establishing two new flats. Our specialist lenders were familiar with LLP lending and were able to move quickly despite the landlord being based in the UAE.
The result
As an experienced expat lender with full market access, we quickly identified the buy to let remortgage lenders and were able to present our customer’s portfolio details and criteria that covered our client’s property and investment objectives, including cash flow and rental yield. He was able to secure a low rate of interest fixed for five years across all properties.
UK Expat Mortgages & Remortgages
No mater where you are currently living or working around the world, Liquid Expat Mortgages can help you secure a buy-to-let mortgage or remortgage in the United Kingdom. Contact us now for a free quote. Our fully qualified and experienced mortgage advisers will advise you on the best mortgage options available for your circumstances.
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